Temasek's Net Profit Sunk 26% Despite 43% Jump In Portfolio Value

[SNAblog]

http://www.marketwatch.com/story/temasek-profit-drops-but-portfolio-value-jumps-43-2010-07-08

Temasek profit drops but portfolio value jumps 43%

By V. Phani Kumar

HONG KONG (MarketWatch) -- Singapore's Temasek Holdings Pte. posted a 26% drop in net profit for the year ended March 31 because of weaker contributions from companies in its portfolio, The Wall Street Journal reported on Thursday. The state-owned investment firm's profit declined even as the value of its holdings soared 43% to 186 billion Singapore dollars ($135 billion) as of March 31, recovering completely from the huge losses it suffered in 2008 and early 2009. "It's likely we will overweight Asia and remain overweight in Asia for the foreseeable future," said Temasek Executive Director Simon Israel, according to the report. Temasek currently has about 80% of its investments in Asia

 

[Watchman]

They did it by selling assets and ultilities like Singapore Power .

 

[Unrepented]

If they did that the profit should go up and holdings decrease mah

They did it by selling assets and ultilities like Singapore Power .

 

[Watchman]

If they did that the profit should go up and holdings decrease mah

Complemented by aggressive selling of government bond structures
to new citizens .

 

[longbow]

Very vague statement. 43% increase from when? also what is the risk of the portfolio. They seem to have some pretty risky investments that went collapse in matter of months. Returns on risk adj basis?

http://www.marketwatch.com/story/temasek-profit-drops-but-portfolio-value-jumps-43-2010-07-08

The state-owned investment firm's profit declined even as the value of its holdings soared 43% to 186 billion Singapore dollars ($135 billion) as of March 31, recovering completely from the huge losses it suffered in 2008 and early 2009.